Weekly Average Momentum Index (AMI) rankings of HSA, SSPP, RSP, SELECT, ETF, iETF, sETF have been posted at http://sites.google.com/site/ycprankings
Stocks consolidated for the third week with Dow Jones Industrial Average flirting around the 1400 psychological barrier. S&P 500 index closed the week at 1515, down 0.28%, Dow Jones Industrial Average gained 0.13%, and Nasdaq composite decreased 0.95% for the week.
This stock rally since November 2012 looks to be tired, and has been in a consolidation for 3 weeks to digest its gain. Watch for key short term support at 1460 and 1420 for S&P 500 index, if a pull back happens.
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